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Motilal Oswal Asset Management Company (MOAMC) has launched the Motilal Oswal MSCI EAFE Top 100 Select Index Fund. The fund provides investors exposure to top 10 countries based on their weight in MSCI EAFE (Europe, Australia & Far East) Index, it said in a release.
MSCI EAFE Index is designed to represent performance of 21 developed markets across Europe, Australasia and far East excluding the US and Canada.
The Fund has selected 100 companies out of EAFE 10 universe based on adjusted market capitalisation. MSCI EAFE Top 100 Select Index has maximum 10 countries and 100 constituents. The top 10 constituents account for 25.8 per cent of the total, with the greatest constituent accounting for 4.1 per cent.
The fund will be rebalanced quarterly with cap on country weight at 40 per cent, Motilal Oswal said in a release.
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